Iran's oil and gas industry has a rich history, dating back to the early 20th century. The discovery of oil in Iran was a turning point for the country, with the first significant find occurring in 1908 in the southwestern province of Khuzestan. This discovery led to the establishment of the Anglo-Persian Oil Company (APOC), which later became British Petroleum (BP). In 1951, Iran nationalized its oil industry, leading to a major political and economic confrontation with Western countries. The nationalization efforts culminated in the 1953 coup, which restored the Shah and led to the formation of the National Iranian Oil Company (NIOC), which has since been the primary entity overseeing Iran's oil and gas operations.
Iran is one of the world's top oil producers, with significant oil fields primarily located in the southwestern region of Khuzestan. Major fields include Ahvaz, Marun, Gachsaran, and Khoramshahr. The Ahvaz field, in particular, is one of the largest and oldest, with production starting in the early 20th century. The Marun field, discovered in 1959, is also substantial, known for its high output and significant reserves. Gachsaran is another key field, notable for its large reserves and historical production levels. The Khoramshahr field has played a significant role in Iran's oil industry, contributing to the country's output and export capacity.
In addition to onshore fields, Iran has offshore oil production, primarily in the Persian Gulf. The Sirri, Salman, and Abadan fields are significant offshore sites. The Sirri field, located in the northern Persian Gulf, has been a key source of crude oil for Iran. The Salman field, situated near the maritime border with the United Arab Emirates, is also an important asset, contributing significantly to Iran's oil production. The Abadan field, located near the coast, is part of Iran's efforts to expand its offshore production capabilities.
Iran has substantial oil and gas reserves. As of recent estimates, Iran holds one of the largest proven oil reserves globally, with over 150 billion barrels of crude oil and around 1,200 trillion cubic feet of natural gas. Despite these vast reserves, Iran's extraction and production levels have fluctuated due to international sanctions and economic challenges. The country has faced restrictions on its oil exports, impacting its production capacity and revenue.
Iran's oil exports have been a crucial component of its economy, though recent sanctions have affected its export volumes. In 2020, Iran's oil exports were significantly reduced due to international sanctions, with estimates suggesting an average export volume of around 300,000 to 400,000 barrels per day, compared to over 2 million barrels per day in previous years. The country earns a substantial portion of its revenue from oil exports, although exact figures vary depending on global oil prices and sanctions. Pre-sanctions, Iran earned billions of dollars annually from oil exports, but recent years have seen a dramatic decrease in revenue.
The major players in Iran's oil and gas sector include the National Iranian Oil Company (NIOC), which manages the majority of oil and gas operations, and various subsidiaries like the National Iranian Gas Company (NIGC) and the National Iranian Petrochemical Company (NIPC). The industry also involves several international companies, though their participation has been limited by sanctions. Key Iranian companies involved in exploration, production, and refining include the Iranian Oil Engineering and Construction Company (IOEC) and the Iranian Offshore Oil Company (IOOC).
Field Acronyms
EUR_MMBOE = Estimated ultimate recovery in million barrels of oil equivalent
Giant oil and gas fields = those with 500 million barrels (79,000,000 m3) of ultimately recoverable oil or gas equivalent.
Super giant oil field = holds equivalent of 5.5bn barrels of oil reserves.
Ab-E-Teimur Field, Iran, Discovered 1968, Giant Field
Abouzar Field, Iran, Discovered 1961, Giant Field
Agha Jari Field, Iran, Discovered 1936, Supergiant Field
Aghar Field, Iran, Discovered 1974, Giant Field
Ahwaz Field, Iran, Discovered 1958, Supergiant Field
Assaluyeh Field, Iran, Discovered 1988, Giant Field
Azadegan Field, Iran, Discovered 1999, Giant Field
Azar field Field, Iran, Discovered 2005, Giant Field
B. Structure Field, Iran, Discovered 1972, Supergiant Field
Bibi Hakimeh Field, Iran, Discovered 1961, Supergiant Field
Binak Field, Iran, Discovered 1960, Giant Field
Bushgan Field, Iran, Discovered 1961, Giant Field
Dalan Field, Iran, Discovered 1978, Giant Field
Dalit 1 Field, Iran, Discovered 2009, Giant Field
Darquain Field, Iran, Discovered 1965, Giant Field
Day Field, Iran, Discovered 2001, Giant Field
Dehluran Field, Iran, Discovered 1980, Giant Field
Emam Hassan Field, Iran, Discovered 1963, Giant Field
Farsi Block Field, Iran, Discovered 2007, Giant Field
Fereidoon Field, Iran, Discovered 1960, Supergiant Field
Forooz Field, Iran, Discovered 2010, Giant Field
Foroozan Field, Iran, Discovered 1966, Giant Field
G 3 Field, Iran, Discovered 1993, Giant Field
Gachsaran Field, Iran, Discovered 1928, Supergiant Field
Haft Kel Field, Iran, Discovered 1926, Giant Field
Homa Field, Iran, Discovered 2000, Giant Field
Jofeyr Field, Iran, Discovered 2008, Giant Field
Jufeyr Field, Iran, Discovered 1978, Giant Field
Kabir Kuh Field, Iran, Discovered 1973, Giant Field
Kangan Field, Iran, Discovered 1972, Supergiant Field
Karanj Field, Iran, Discovered 1963, Supergiant Field
Khangiran Field, Iran, Discovered 1968, Giant Field
Kharg Island-Doroud Field, Iran, Discovered 1961, Giant Field
Khesht Field, Iran, Discovered 1994, Giant Field
Kish 2 Field, Iran, Discovered 2006, Supergiant Field
Kuh-I-Mund Field, Iran, Discovered 1974, Giant Field
Kupal Field, Iran, Discovered 1965, Giant Field
Lab-E-Safid Field, Iran, Discovered 1969, Giant Field
Lavan Field, Iran, Discovered 2003, Giant Field
Maleh Kuh Field, Iran, Discovered 1968, Giant Field
Mansuri Field, Iran, Discovered 1963, Giant Field
Marun Field, Iran, Discovered 1964, Supergiant Field
Masjid-i-Sulemain Field, Iran, Discovered 1908, Giant Field
Mokhtar Field, Iran, Discovered 1992, Giant Field
Naft Safid Field, Iran, Discovered 1938, Giant Field
Nar Field, Iran, Discovered 1975, Giant Field
Nargesi Field, Iran, Discovered 1980, Giant Field
NIOC Sefid Zakhur 1 Field, Iran, Discovered 2007, Giant Field
Nowruz Field, Iran, Discovered 1967, Giant Field
Paris Field, Iran, Discovered 1964, Giant Field
Pars North Field, Iran, Discovered 1966, Supergiant Field
Pars South Field, Iran, Discovered 1991, Megagiant Field
Parsi Field, Iran, Discovered 1964, Supergiant Field
Pazanan Field, Iran, Discovered 1936, Supergiant Field
Qishm-Salag Field, Iran, Discovered 1961, Giant Field
Rag-E-Safid Field, Iran, Discovered 1964, Supergiant Field
Rostam Field, Iran, Discovered 1967, Giant Field
Salman Field, Iran, Discovered 1965, Giant Field
Saradjeh Field, Iran, Discovered 1958, Giant Field
Sarhun Field, Iran, Discovered 1978, Giant Field
Sarkhan Field, Iran, Discovered 1973, Giant Field
Sassan Field, Iran, Discovered 1967, Giant Field
Shakeh Field, Iran, Discovered 1978, Giant Field
Shanul Field, Iran, Discovered 1995, Giant Field
Sirri D Field, Iran, Discovered 1978, Giant Field
Soroosh Field, Iran, Discovered 1962, Giant Field
Tabnak Field, Iran, Discovered 1999, Giant Field
Tang-i-bijar Field, Iran, Discovered 1965, Giant Field
Yadavaran Field, Iran, Discovered 2001, Giant Field
Zeloi Field, Iran, Discovered 1976, Giant Field